The online retail market, which today stands at a $231 billion, will see a growth up to $370 billion four years down the line, as has been recently predicted by Forrester. This shows an annual growth rate of over ten percent. Yes, ecommerce has been growing and will continue to grow, with more and more businesses working on their online presence. However, this can pose a problem to various small businesses out there when it comes to building the capital in order to set up their marketplace in ecommerce.
This is where services like Zaarly, Wix, Weebly Etsy and a million others have come to the rescue, helping various merchants and businesses with their online sales.
One among them is Shopify which provides a platform where users can get their online storefronts set up within a matter of minutes. Products can easily get added along with images and payments can be accepted through services like Paypal and various others.
In private beta for the past seven months, the startup has recently made itself public. More than fifty thousand online stores have in fact been created by various merchants out there. Over sixty new features have been added by the startup. The creation of applications and development of prototypes can now go on at a faster pace with the new framework.
The startup is also working on getting an Enterprise plan introduced for clients of high volume. The cost of this new plan will be $1000 a month. The startup’s service is also being accessed by various big ticket brands out there, some of them including names like Wikipedia, Gatorade and Budweiser.
Having been redesigned, the startup has now come out with various new features, like partial refunds that can now be offered by merchants without the use of the service by Paypal. Also the admin and search functionality have now been improved. A live theme editor has also been added where merchants can now get their stores built and customized before getting them published.
The startup has also got its order management system improved with things like improved fraud detection, refunds, merchant side order editing, and abandoned checkout management.
The startup today has over forty one thousand active stores in all.